NGAM Advisors L.P. purchased a new position in shares of The Navigators Group, Inc. (NASDAQ:NAVG) during the second quarter, Holdings Channel reports. The firm purchased 26,591 shares of the insurance provider’s stock, valued at approximately $1,460,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan raised its position in shares of The Navigators Group by 10.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,530 shares of the insurance provider’s stock worth $413,000 after buying an additional 710 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of The Navigators Group by 15.1% in the second quarter. Russell Investments Group Ltd. now owns 73,277 shares of the insurance provider’s stock worth $4,023,000 after buying an additional 9,621 shares during the last quarter. Huntington National Bank raised its position in shares of The Navigators Group by 29.2% in the second quarter. Huntington National Bank now owns 2,183 shares of the insurance provider’s stock worth $120,000 after buying an additional 494 shares during the last quarter. Aperio Group LLC raised its position in shares of The Navigators Group by 5.9% in the second quarter. Aperio Group LLC now owns 8,797 shares of the insurance provider’s stock worth $483,000 after buying an additional 487 shares during the last quarter. Finally, Diversified Trust Co bought a new position in shares of The Navigators Group during the second quarter worth about $200,000. Institutional investors and hedge funds own 72.96% of the company’s stock.

The Navigators Group, Inc. (NASDAQ NAVG) opened at 56.05 on Tuesday. The firm’s 50-day moving average is $55.50 and its 200-day moving average is $54.37. The Navigators Group, Inc. has a 52 week low of $45.38 and a 52 week high of $62.04. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 19.81 and a beta of 0.77.

The Navigators Group (NASDAQ:NAVG) last issued its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.08. The business had revenue of $293.80 million during the quarter, compared to the consensus estimate of $297.82 million. The Navigators Group had a net margin of 6.86% and a return on equity of 6.53%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. On average, equities analysts anticipate that The Navigators Group, Inc. will post $2.54 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.43%. The Navigators Group’s dividend payout ratio is presently 8.48%.

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A number of brokerages have issued reports on NAVG. Zacks Investment Research upgraded shares of The Navigators Group from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a research note on Wednesday, August 9th. Boenning Scattergood restated a “hold” rating on shares of The Navigators Group in a research note on Friday, August 4th. Sidoti began coverage on shares of The Navigators Group in a research note on Thursday, June 22nd. They set a “neutral” rating and a $58.00 price target on the stock. Finally, ValuEngine lowered shares of The Navigators Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The Navigators Group currently has an average rating of “Hold” and a consensus target price of $59.50.

In related news, insider Colin Sprott sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $52.73, for a total value of $527,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP R Scott Eisdorfer sold 3,532 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $56.32, for a total transaction of $198,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 58,532 shares of company stock valued at $3,132,822 in the last 90 days. Insiders own 24.10% of the company’s stock.

The Navigators Group Company Profile

The Navigators Group, Inc is an insurance holding company. The Company is an international insurance company focused on marine insurance. The Company’s segments include U.S. Insurance, International Insurance (Int’l Insurance), Global Reinsurance (GlobalRe) and Corporate. The Company’s Property and Casualty (P&C) insurance business primarily offers general liability coverage, and umbrella and excess liability coverage to commercial enterprises through its U.S.

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Institutional Ownership by Quarter for The Navigators Group (NASDAQ:NAVG)

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